Lohum, a diversified critical minerals producer, has announced plans to establish India’s first integrated rare earth element (REE) magnet production facility in Uttar Pradesh.
The state-of-the-art plant will have a production capacity of 2,000 tonne, producing both light and heavy rare earth elements essential for sectors like electric mobility, renewable energy, aerospace, and defence. Lohum aims to meet 20 percent of India's rare earth magnet demand by 2030. The facility will be built with an investment of Rs 500 crore and is expected to be operational within two years.
Lohum’s expansion into rare earths is likely to secure position India's position in critical minerals production.